Well-known analyst Willy Woo stated that the Bitcoin market has entered a phase of deep consolidation that will last for at least several more weeks. According to Woo, the key barrier right now is the short-term holder price (STH price), which is located at the $84,000 level and is declining daily. Until BTC breaks this mark, expecting growth is pointless.
Why short-term holders matter most for Bitcoin right now
It all comes down to market psychology and the so-called “break-even point.” Short-term holders (STH) are the most nervous category of investors — those who have held coins for less than 155 days.
In on-chain analytics, the position of the price relative to the STH price is a watershed between bull and bear markets:
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- Price above STH: New money is making profits, optimism dominates the market and speculators are ready to buy on pullbacks.
- Price below STH, as now: New money is losing.
The market perceives any local rise as an opportunity to “get out,” rather than as the start of a rally. Willy Woo notes that the $84,000 level for Bitcoin is crawling downward every day. This is a bad sign. It means that older short-term holders are locking in losses and exiting, while their place is taken by new buyers at lower prices.
The market is redistributing, but there is no impulse for growth because every new buyer is also ready to close at “break-even” at the slightest noise.
The BTC price is trading around $70,100, trying to hold psychological support. Investors are reducing high-leverage positions, fearing a sharp move downward after a false rise toward $80,000.
Large players are not rushing to buy right now, waiting for the price to finally find a bottom. The coming weeks will be decisive for determining the trend for the entire spring of 2026.
Source: https://u.today/willy-woo-updates-bitcoin-outlook-why-bearish-trend-could-persist-through-spring
